Home Loan Rates 20189325 views
Highlights
- Flexible eligibility and documentation for home loan.
- No processing fee for home loan balance transfer.
Table of Contents
- 1 About SBI Housing Loan
- 1.1 SBI Home Loan Interest Rates August 2018
- 1.2 What is the eligibility criteria for SBI Home Loans?
- 1.3 SBI Home Loan Eligibility for Non-Salaried People
- 1.4 SBI Home Loan Documents
- 1.5 What is the processing fee on SBI Home Loans?
- 1.6 How to apply for SBI Home Loan Online?
- 1.7 How to apply for SBI Home Loan on WhatsApp?
- 2 Different Types of SBI Home Loans
- 2.1 SBI Regular Home Loan
- 2.2 Top-Up Loan
- 2.3 Flexipay Home Loan
- 2.4 SBI Maxgain-Home loan
- 2.5 SBI NRI Home Loan
- 2.6 Realty Home Loan
- 2.7 Pre-approved Loan (PAL)
- 2.8 Tribal Plus Home Loan
- 2.9 Privilege Home Loan
- 2.10 Shaurya Home Loan
- 2.11 Bridge Home Loan
- 2.12 How can you check your loan application Status?
- 2.13 SBI Home Loan Customer Care Number
About SBI Housing Loan
SBI is the most preferred bank for housing loans and there are many reasons behind it. You can apply for this home loan on WhatsApp as well. The application procedure is the smoother ever and there is currently no processing fee on balance transfer till August 31, 2018. Read more to know the following details:
- SBI home loan eligibility
- Documents required for approval
- Interest rate and processing fee
- Types of home loans
- Online application procedure
- Application status and customer care details
Home Loan
Eligibility & Quotes from top PSU & Pvt. Banks | Lowest Interest Rates | Comfortable Tenure
SBI Home Loan Interest Rates August 2018
Below is the table showing the maximum loan amount, tenure, interest rate, and the processing fee on the loan. The processing fee would also attract an additional 18% GST which altogether is a one-time payment deducted from the disbursed amount.
| Particulars | Details |
|---|---|
| Interest Rate | 8.45% - 9.00% |
| Loan Amount | Customized |
| Tenure | Up to 30 Years |
| Processing Fee | 0.35% of loan amount plus GST to maximum ₹10,000 plus GST |
What is the eligibility criteria for SBI Home Loans?
SBI provides home loans to salaried, self-employed, employees of central/state government, self-help groups and defense personnel belong to army, navy and air force. For your reference, below is the table showing SBI Home Loan Eligibility.
| Criteria | Salaried | Self-employed |
|---|---|---|
| Age | 18 Years-70 Years | 21 Years-70 Years |
| Income | ₹1,80,000 (p.a.) | ₹1,80,000 (p.a.) |
| Loan Amount Offered | Customized | Customized |
| Tenure | 30 Years | 30 Years |
| Current Experience | 2 Years | 3 Years |
SBI Home Loan Eligibility for Non-Salaried People
- Resident Type: Resident Indian
- Wherever the applicant is Proprietor of a Proprietorship firm or is one of the partners in a Partnership Firm or is one of the Directors in a Company, the firm/Company:
- Should be in existence for at least last 3 years
- Must have earned Net Profit in the last two years
- Existing Credit Facilities, if any, should be Regular and Standard. Opinion Report in this regard will be obtained from the existing Bankers.
- Wherever the proposed House Property is acquired in joint names of the Proprietor and the Proprietary Firm, the firm should be our existing borrower or a debt free entity.
- Minimum Age: 18 years
- Loan Tenure: up to 30 years.
- Loan Amount: Minimum: ₹50,000/- & Maximum:₹50 crores.
SBI Home Loan Documents
The complete list of documents you must have if you want to apply for SBI home loans and for smoother approval is given below.
| Salaried | Self-employed/Professionals/Other IT Assesses |
|---|---|
| Duly filled loan application | Duly filled loan application |
| 3 recent passport size photographs | 3 recent passport size photographs |
| Identity proof (Aadhar Card/Voter ID card/Passport/ Driving licence/IT PAN Card) | Identity proof (Aadhar Card/Voter ID card/Passport/ Driving licence/IT PAN Card) |
| Residential proof (Aadhar Card/photocopy of recent electricity bill/telephone bill/property tax receipt) | Residential proof (Aadhar Card/photocopy of recent electricity bill/telephone bill/property tax receipt) |
| Proof of business address for non-salaried individuals | Proof of business address for non-salaried individuals |
| Bank statement/Pass Book of last three month | Bank statement/Pass Book of last three month |
| Signature identification from present bankers | Signature identification from present bankers |
| Personal Assets and liabilities statements | Personal Assets and liabilities statements |
| Original salary certificate from employer | Acknowledged copies of three years IT return/Assessment orders |
| TDS certificate on Form 16 of IT return for last two financial years, duly acknowledged by IT department | Photocopies of challans evidencing payment of Advance Income Tax |
What is the processing fee on SBI Home Loans?
The processing fee for home loans and Home Top-up Loans (both Takeover and New) is 0.35% of loan amount plus GST to maximum ₹10,000 plus GST. There is also no processing fees and hidden charges on the balance transfer (offer valid for disbursement till August 31, 2018). So, if you have an existing home loan, you can go for balance transfer without paying any extra charges.
How to apply for SBI Home Loan Online?
The home loan experts at Wishfin make sure you get lowest interest rates along with instant approval facility. You can visit the website and apply for SBI home loan online. So, to get hassle-free loan, apply at Wishfin.
How to apply for SBI Home Loan on WhatsApp?
You can now apply for a SBI home loan on WhatsApp. You just have to follow simple steps send to you on your WhatsApp and then follow the procedure. The process hardly takes few minutes and is totally genuine.
Different Types of SBI Home Loans
State Bank of India offers various home loan schemes to all its customers so that they can choose from plenty of options. All these home loan schemes come with easy repayment options, competitive interest rates, nominal fee & charges. To know more about these schemes, kindly go through this article below.
- Regular Home Loan
- Balance Transfer
- NRI
- Flexipay
- Privilege
- Shaurya
- Pre-Approved Loan (PAL)
- Realty
- Top-Up
- Bridge
- Hamara Ghar
SBI Regular Home Loan
This is the normal home loan scheme which is the most demanding home loans in India. The interest rate offered by the bank is the lowest.
Top-Up Loan
The customers who already have a home loan from SBI and want more money can opt for this facility. Have a look at the pricing grid for this loan.
Flexipay Home Loan
SBI Flexipay Home Loan is available for salaried and working professional/executives. Salaried applicants with minimum 2 years of experience, aged between 21-45 years are eligible to avail the loan under this scheme. This loan scheme is available with a maximum repayment period of 25-30 years with a loan amount of ₹20 Lakh or above.
SBI Maxgain-Home loan
You can avail this scheme to get the loan amount of above ₹20 Lakh & there is no maximum limit available for obtaining home loans under SBI Maxgain scheme.
SBI NRI Home Loan
This home loan scheme is available for Non-Resident Indians (NRIs) as well as for Persons of India Origin (POIs), having a regular source of income. To avail the same, the minimum employment tenure in India/Abroad is 2 years.
Realty Home Loan
You can avail this loan to purchase a plot so as to start the construction of the house. Maximum loan amount offered under this scheme is ₹10 crore up to a repayment period of 15 years.
Pre-approved Loan (PAL)
Under this scheme, the home loans can easily be sanctioned to the borrowers before the finalization of the property, which also enables the borrowers to do the negotiation easily.
Tribal Plus Home Loan
People living in hilly/tribal areas can avail loan from this scheme to purchase or construct a home/flat without mortgaging the land. The maximum loan amount that you can get is ₹10 Lakh for a maximum repayment period of 15 years.
Privilege Home Loan
Employees of Central/State Governments including PSBs, PSUs and other individuals with pensionable service. Maximum loan tenure is 30 years with repayment upto the age of 75 years.
Shaurya Home Loan
Those who are in defense personnel belonging to Army, Navy and Air Force are eligible to avail the home loan under this scheme. Under this scheme, you can repay the same at an age of 75 years with maximum loan repayment period of upto 30 years.
Bridge Home Loan
SBI Bridge Loan is the facility under which you can get the loan for the rest 20% as well. This is a short term loan which helps the borrower to buy their dream home without being worried about any down payment.
How can you check your loan application Status?
In order to know your SBI Home Loan Status, you can visit the official website of the bank or contact Wishfin home loan executive. The executives are there to help you track the status of your home loan application. You need to have the application ID to know the status.
SBI Home Loan Customer Care Number
If you have any home loan related query, you can also contact the nearest SBI branch. You can also dial a toll-free customer care number-1800 425 3800.
